.2 minutes reviewed Last Improved: Sep 11 2024|12:14 AM IST.Digital financing platform FlexiLoans has actually raised Rs 290 crore in Collection C funding from worldwide and residential entrepreneurs, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based charitable company, Nuveen, and existing entrepreneur Maj Invest.FlexiLoans, which offers to local business through a cash flow-based lender version, will definitely make use of the fresh financing to grow its own procedures, enrich its product offerings, and strengthen its own technical framework, the firm pointed out in a release.The new funds is going to aid the firm develop its properties under monitoring (AUM) coming from Rs 2,000 crore currently to Rs 3,500 crore. To time, FlexiLoans has actually paid out over Rs 7,000 crore in fundings throughout greater than 2,100 communities and also urban areas.." While as an NBFC our team will certainly always keep raising funds as and when required, this funding ought to be good enough for us to develop to Rs 3,500 crore in AUM," mentioned Deepak Jain, co-founder, FlexiLoans.The agency is targeting to pay around Rs 5,000 crore in car loans in FY25.In the following 3-4 years, the company might seek to go social, Jain mentioned. "Our experts wish to do it at the right time when our team struck the right measurements as well as range," he stated, including that the company has actually been profitable for the final three years as well as is actually targeting double-digit income in the current fiscal year and triple-digit profits in the upcoming financial year." Our credit scores price is actually around 3.3 per cent since the June one-fourth. We have regularly stayed sub-5 percent as for credit report prices are concerned," he pointed out.Unitus Financing worked as the exclusive expert to the transaction.Heretofore around, the firm increased resources coming from Sanjay and Falguni Nayar, Maj Invest, Fasanara Funds, alongside various other noticeable loved ones workplaces.First Posted: Sep 11 2024|12:14 AM IST.